No movement? It moved up this morning, then moved back down, then back up to finish even on the day. No movement...pshaw :)
What we saw today was a product of the massive volume and large moves of the previous days combined with some selling by people who thought they'd get a quick flip or a continued move up into next week.
There was still a lot of exuberance from yesterday and the day before fueling new buyers this morning. Because of that we saw a move up. Profit taking comes into play - you've got people taking profits after the moves of the past week or so...plus people who still hold despite having thoughts of selling. The momentum turns. People continue to take profits, and now you add in those people who thought about taking profits but didn't and are now watching their profits decrease. They start selling. Downward force continues. Now you have people who bought this morning all of a sudden down 6 ticks and panicking. Some held, some bailed. End result - what you might call a "down" day...or what feels like a down day just because it wasn't green. But it wasn't red either.
Basically, what I saw today was a lot of shares being swapped around. I don't think a lot of(or maybe not any) new shares found their way into the mix. Despite it being a Friday, and despite the "weakness" today, it looks to me like there's still optimism here and some anticipation of positive moves next week. Otherwise it would have been a very bad afternoon indeed.
Just my take - the market is driven by people...buyers and sellers.
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